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Patria Investments price target lowered to $14 from $15 at BofA

BofA lowered the firm’s price target on Patria Investments (PAX) to $14 from $15 and keeps a Neutral rating on the shares after the company reported better-than-expected Q4 earnings of 52c, driven by a performance fee beat. The firm continues to apply a nine-times multiple on its 2027 cash earnings estimate to arrive at its reduced price target for the shares.

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